60621 20210121114522.0 doi 10.3390/su7021932 sideral 89766 ART-2015-89766 eng (orcid)0000-0001-5582-3694 Ortas, E. Universidad de Zaragoza The environmental, social, governance, and financial performance effects on companies that adopt the United Nations Global Compact 2015 Access copy available to the general public Unrestricted This paper aims to investigate companies’ environmental, social, governance (ESG), and financial implications of their commitment to the United Nations Global Compact (UNGC). The focus is placed on companies operating in the three countries with the highest number of UNGC participants: Spain, France, and Japan. The results clearly reveal that adoption of the UNGC often requires an organizational change that fosters stakeholder engagement, ultimately resulting in improvements in companies’ ESG performance. Additionally, the results reveal that ESG performance has a significant impact on financial performance for companies that adopted the principles of the UNGC. These findings provide both non-financial and financial incentives to companies to commit to this voluntary corporate social responsibility (CSR) initiative, which will have important implications on companies’ strategic management policies that aim to foster sustainable businesses and community development. Finally, the linkages between the UNGC-committed companies’ ESG and financial performance may be influenced by geographical spread, mainly due to the appearance of differences in the institutional, societal, and cultural settings. info:eu-repo/grantAgreement/ES/MEC/ECO2011-26171 info:eu-repo/semantics/openAccess by http://creativecommons.org/licenses/by/3.0/es/ 1.343 2015 ENVIRONMENTAL SCIENCES 146 / 225 = 0.649 2015 Q3 T2 GREEN & SUSTAINABLE SCIENCE & TECHNOLOGY 5 / 6 = 0.833 2015 Q4 T3 ENVIRONMENTAL STUDIES 62 / 104 = 0.596 2015 Q3 T2 GREEN & SUSTAINABLE SCIENCE & TECHNOLOGY 23 / 30 = 0.767 2015 Q4 T3 0.482 2015 Geography, Planning and Development 2015 Q2 Renewable Energy, Sustainability and the Environment 2015 Q2 Management, Monitoring, Policy and Law 2015 Q2 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Álvarez, I. Garayar, A. 4002 230 Universidad de Zaragoza Dpto. Contabilidad y Finanzas Área Economía Finan. y Contab. 7, 2 (2015), 1932-1956 Sustainability (Basel) SUSTAINABILITY 2071-1050 757724 http://zaguan.unizar.es/record/60621/files/texto_completo.pdf Versión publicada 92902 http://zaguan.unizar.es/record/60621/files/texto_completo.jpg?subformat=icon icon Versión publicada oai:zaguan.unizar.es:60621 articulos driver 2021-01-21-11:03:44 ARTICLE